How are multifamily spaces evolving post-pandemic? That was the topic of discussion at a recent TecHome Builder Summit panel featuring Streetsense’s Senior Marketing Strategist Blake Band.
With a unique portfolio of work straddling consumer technology as well as a series of pursuits supporting multifamily marketing at Streetsense, Band shared his unique point-of-view on how the meteoric rise of gaming over the past 3 years has changed the tastes of would-be renters.
Setting the Stage: Evolution in At-Home Technology Consumption
– There will be 179.6M monthly digital gamers this year in the US. (Insider Intelligence)
– In 2021, the average gamer spent 8.5 hours gaming each week (up 14% from 2020).
– 48% of all PC owners use their devices to play video games.
– 45% of people surveyed in the US work from home at least once a week.
– Video Games industry is expected to climb to $260B in revenue by 2025 (Investopedia)
– 71.3% of respondents reported that the time they spend playing video games had changed during the COVID-19 pandemic, while 63.1% stated that the types of games they play had changed. (Sage Journals)
How can multifamily renters evolve to meet the needs of gamers? Tech-Friendliness and customization are top qualities gamers look for in their rental community search.
If you are looking to target one of the 179M+ gamers in the US, ensuring units are equipped with high-quality, reliable internet connections and plenty of ethernet ports is a must-have. Including internet as part of rental fees can help renters navigate the arduous process of setting up all the extra amenities they need.
A gaming rig and desk setup are highly personal extensions of both gamers and home-workers. Gaming itself is an experience unique to each individual that can be both a source of pride and expression. The subreddit r/Battlestations has over 3.1M members who are dedicated to showing off the best of their home setups. Communities offer dedicated areas within units for home gaming and productivity with spaces that can be tailored to individual’s needs will see benefits from this trend.
According to Investor Management Services, “…research indicates that tenants who are allowed to customize their living spaces are more likely to renew their leases, even in the case of a price hike. Millennials in particular – one of the largest cohorts of renters — take into consideration whether or not and the extent to which they can customize a space.”
While some may view gaming as a hobby, it’s felt by many as a full-fledged lifestyle—one that cannot be ignored as the landscape of entertainment evolves. Builders and developers should conduct a thorough analysis of their area demographics and adapt their amenity offerings accordingly.
Blake Band is a Senior Marketing Strategist with over 7+ years experience combining analytical and creative elements to drive meaningful results for tech, CPG and real estate brands. A graduate of University of Florida’s Masters in Entrepreneurship program, Band has consulted for leading gaming peripheral provider Logitech G as well as developers JBG SMITH, Republic Properties, Bozzuto and others through Streetsense’s client base of developers across the world.
The TecHome Builder Summit is a hosted-style event that drives extraordinary progress on technology for the nation’s biggest and most progressive single-family homebuilders and multifamily operators.
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